5. Section 152 of the principal enactment is hereby amended as follows:-
| (1) by the repeal of subsection (3) of that section and the substitution therefor of the following new subsection:-
| | "(3) Where any person carrying on a business has paid the business turnover tax in respect of that business for one or more of the quarters in any year of assessment commencing on or after October 1, 1971, but prior to October 1, 1977, and the turnover of that business tax for that year of assessment-
| | | (a) in the case where that business was carried on during the entirety of that year of assessment, is less than seventy-five thousand rupees, or |
| (b) in the case where that business was carried on for only a part of that year of assessment, is less than the sum which bears to seventy-five thousand rupees the same proportion as the number of days in the period during which he carried on that business in that year of assessment bears to three hundred and sixty-five, |
|
|
|
| (2) by the insertion, Immediately after subsection (3) of that section, of the following new sub section:-
| | " (4) Where any person carrying on a business has paid the business turnover tax in respect of that business for one or more of the Quarters in any year of assessment commencing on or after October 1, 1977, and the turnover of that business for that year of assessment-
| | | (a) in the case where that business was carried on during the entirety of that year of assessment, is less than one hundred thousand rupees, or |
| (b) in the case where that business was carried on for only a part of that year of assessment, is less than the sum which bears to one hundred thousand rupees the same proportion as the number of days in the period during which he carried on that business in that year of assessment bears to three hundred and sixty-five, |
|
|
|
|
Sri Lanka Consolidated Acts